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20130110
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Search Results 0 to 49 of about 126 (some duplicates have been removed)
MSNBC
Jan 10, 2013 6:00am PST
. is jack lew ready for a full-blown fight over the debt ceiling in his first month on the job? pocket change. you heard about this idea. the trillion dollar coin to handle the debt ceiling. well, today we will tell you where it all started and whether or not it is really something president obama might use. they won't rule it out important some reason. and back to the future. the gun debate of 1994 had many lessons for the fight unfolding today. what can president obama learn from president clinton's success? good morning from washington. thursday, january 10, 2013. this is "the daily run-down." i'm chuck todd. let's get to my first read of the morning. this afternoon president obama will formally name his chief of staff, jack lew, to replace treasury secretary tim geithner. a sign the white house expects a big fight over the federal budget lew is the safe pick. he has been confirmed twice by the senate before. just in this administration. if confirmed in time, he can face his first test next month over the debt ceiling. lew is a walk among walks. described in one profile by the huffi
RT
Jan 9, 2013 11:00pm EST
this is when congress must deal with the debt ceiling and those seaquest ration spending cuts this shouldn't come as a major revelation so in the meantime from tax hikes to trillion dollar coin ideas edward harrison is here to discuss what is likely to be the fallout from what he calls the fiscal cliff less and les miserables it is a hollywood blockbuster meant to show off a list actor singing chops or is it actually a valuable lesson in the economic misadventures of stated them very relevant today while jeffrey tucker argues the latter will hear why business week's cover feature is babies crying on capitol hill but what about a study that finds babies born during recessions are more likely to be delinquent teens no word on what happens if they get elected to office we'll have more in loose change plus we'll talk sped minutes an inflationary dragons' let's get to today's capital account. nouriel roubini has an op ed in the financial times today saying the deal reached in washington on new year's day kept the u.s. from falling off the you know what however given the dysfunctional na
PBS
Jan 9, 2013 6:30pm PST
fiscal cliff in the rear view mirror, raising the debt ceiling is washington's next big drama. we look at why its so important. >> susie: i'm susie gharib. that drama, could have a new cast member, we're learning the president will nominate jacob lew as his next treasury secretary. >> tom: and with its reputation already on the ropes, a.i.g., the big bailed-out insurer, decides against suing uncle sam. >> susie: that and more tonight on "n.b.r."! >> tom: there could soon be a new signature on the dollar bill, jacob "jack" lew is said to be the president's pick to replace treasury secretary timothy geithner. that nomination is expected tomorrow. should he be confirmed by the senate, one of lew's first challenges will be dealing with the rapidly approaching debt ceiling. darren gersh reports. >> reporter: assuming he wins senate confirmation, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those trick
CBS
Jan 9, 2013 7:00pm EST
fiscal cliff in the rear view mirror, raising the debt ceiling is washington's next big drama. we look at why its so important. >> susie: i'm susie gharib. that drama, could have a new cast member, we're learning the president will nominate jacob lew as his next treasury secretary. >> tom: and with its reputation already on the ropes, a.i.g. the big bailed-out insurer decides against suing uncle sam. >> susie: that and more tonight on "n.b.r."! >> tom: there could soon be a new signature on the dollar bill, jacob "jack" lew is said to be the president's pick to replace treasury secretary timothy geithner. that nomination is expected tomorrow. should he be confirmed by the senate, one of lew's first challenges will be dealing with the rapidly approaching debt ceiling. darren gersh reports. >> reporter: assuming he wins senate confirmation, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks
RT
Jan 10, 2013 12:30pm EST
the debt ceiling and in the second what's called the sequester the sequester a second time twister got it wrong million times i'm sure now then my next question then is since the bush tax cuts are now permanent for most people is that a good thing because it's always better for that money to be in the hands of the private sector than going to government coffers or is it bad because the c.b.s. says that hey we're looking at four trillion dollars added to the budget deficit as a. results look at sort of from the specter of that is that right now what the economy needs is you know more hands in people's pockets more even. more really had a very large area that i was a lad. and they're getting. you know over time if you need to control inflation or to slow the economy when we get there when the unemployment rates three percent then maybe taxes will change but until then i think this is a good thing and you know if you're thinking about stimulus at the end of the day i think americans have decided over the last three or four years that they prefer tax cuts to government spending in term
FOX Business
Jan 10, 2013 6:00pm EST
raise the debt ceiling without congress? will he tried to? our handwriting expert is digitalis about the most talked-about signature. will it end up on our dollar bill? can you read that? >> from that fox business studios in new york city, it's "the willis report" with gerri willis ♪ gerri: as the debt ceiling showdown, members of the financial services round table now headed by former gop presidential candidate temple in tay are urging congress to raise the debt ceiling. failure to do so will cause a wire. will republicans caved? always great to have you on this show. what do you make of this? these and other business leaders of this country who are saying, you have to raise that debt ceiling. >> a little hypocritical. these business leaders of the same ones to say we have to do something about our enormous debt, and what will cause a wire to our nation's finances continuing to go around borrowing a trillion dollars year after year after year. the phony issue, people are saying if we don't pass the debt ceiling it's a default. that is off the table. the constitution prevents a default
PBS
Jan 10, 2013 1:00am PST
out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay. >> even if it were clear that the treasury secretary could do that, pick and choose, the ability, the real ability to reprogram all of the software in treasury's computers which connect to all of the computer software in the various agencies is not something that can be done in ten minutes or ten days or ten weeks. so you have the right to do it, but you don't have the ability to do it. >> reporter: the treasury uses a separate computer system to make interest payments on the federal debt so it is possible investors would get what they are owed. but what happens with social security, medicare and federal employee pay, is less clear. so secretary lew would have to make a decision. he could recom
MSNBC
Jan 10, 2013 3:00pm EST
ties or anything might be that if you welcome at the track record in the 2011 debt ceiling negotiations he was open to pretty significant changes involving social security, medicare, the medicare retirement age. a lot of reporting suggests he was in favor of a deal to raise the medicare retirement age. are we to read anything in to use him as the point man of the negotiations in the upcoming negotiations about where the white house might end up on those questions? >> well, i tell you what republicans are saying today on capitol hill and that is that they see this as a step in the wrong direction which for progressives is probably a step in the right direction if you could follow that because they think that every time they tried to float something on entitlements, jack lew shot it down and the president much more than open than jack lew to some of those changes so i think republicans think that this is a step in the wrong direction for them. but listen. there's definitely always concern from progressives. i think that's natural. and this administration has broadly been open in words, ma
CNN
Jan 10, 2013 9:00am PST
, it's all about the budget. whether it's the debt ceiling or sequestration or the actual budget that the u.s. hasn't created since 2009, the next six to eight months is all going to be about the budget. my sense is, i don't know whether jack lue is the guy for all four years. he's definitely the guy for the next several months. he headed the office of management and budget, that's called the omb, twice. once under clinton, and then after peter orszag left under president obama. this guy knows budgets. he knows everything about it. no learning curve. he is dropping right into the debt ceiling debate. very weird because geithner's leaving. he's got to get into it. for the immediate problem he seems eminently qualified, michael. >> heck of a job. his tenure at citigroup, he was at city group, has raised concerns in some quarters. the coo, chief operating officer, of the alternative investments unit. >> yes. >> but that basically was a unit that bet against homeowners paying their mortgage, picked up a nice million-dollar bonus check. citi was bailed out. how's that going to go over? >>
CNBC
Jan 10, 2013 4:00pm EST
of the challenges, we've got the debt ceiling debate coming. i guess my question is are we going to be able to get in this market at better levels? do i want to wait and take to the sidelines and wait for a nice decline to actually buy because it definitely does feel like this market wants to go up. do i want to go in now or wait for a selloff? >> when the market pulls back a little bit, politicians are committed to provide volatility and uncertainty in this market. europe, experts at it and americans are learning pretty quickly in washington so as we move into the policy turmoil opportunities you'll get a chance to get in from a valuation perspective, but longer term as americans, this is the first time we've ever had a dialogue about how to actually create a fiscally stable country so we'll get better at this as it goes. if i want to be modestly bullish it's great that we're having this debate because 10, 15, 20 years from now we'll look at a more stable financial situation. >> that being said, i think the market if it pulls back, i don't suspect it will pull back very much so peo
CSPAN
Jan 10, 2013 9:00am EST
. and now we face a series of new washington deadlines over deficits, spending, debt ceiling, sequestration, and a continuing resolution to keep the government running. we also faced other domestic and international uncertainties that have the potential to drive down competence -- confidence and discourage job creation from a regulatory flood here at home to economic problems in europe and japan, to geopolitical conflicts that could erupt into war at any time. we must also be concerned about america's capacity for leadership and action, and not only in government. in this country, and this is a country that can still get big things done, do we have the leaders with the courage to put the country first ahead of their own careers, politics, ideologies and egos? can we find leaders in government who truly appreciate the role that the private sector can and must play in building a new american prosperity? the inherited of economic growth should not be an afterthought. it should be job one. economic growth must be front and center here in washington, just as it is in many state capitals across t
RT
Jan 10, 2013 4:30pm EST
show you. how about a trillion dollar magic coin solution to the debt ceiling what is guts plus after the fed minutes came out yesterday gold humbled some are arguing the gold these this in general is shaken some gold traders according to bloomberg expect prices to rebound from the longest weekly losing streak in eight years here to talk about what is going on in the precious metals markets is keith wiener he is president of the gold standard institute and c.e.o. of monetary metals and our discussion of the dairy cliff sent some viewers over the you tube comment or cliff will pull the conversation back from the ledge of your feedback and deliver a special message just for your audience you won't want to miss it let's get to today's capital account. when it comes to the macro environment central bank policy and economic risks and their actual impact on stocks or any asset class the results don't always make sense or follow logic don't we all wish in those situations we had appreciate knowledge of the future like this one more you sure knowledge of the future to play the stock or we cou
RT
Jan 10, 2013 1:30pm EST
his departure has raised some face considering the debt ceiling di lemma has not yet been fully result it is thought that president barack obama will nominate white house chief of staff jack lew this week as geithner as success up i did today i spoke to chief economist at sachs a bank steve jacobson about the transition of power. first of all guy is only one of several players in the coming to go and has been pretty much in the background also through the fiscal cliff but on the other hand of course he's a seasoned veteran negotiator having been fed a reserve man in new york before he joined the treasury a stresser secretary so clearly he and the financial market is extended and someone i think wall street saw to as being a pair of steady hands on the other hand as as you just indicated the fact that the white house is non trying to replace the chief of staff in that position also tells you that obama wants someone you trust someone he sees on a daily basis someone who will reflect his stand so i will say that not that fact that guy in the least but the fact that that the chief
CNBC
Jan 9, 2013 7:00pm EST
does is say no and disrupt things. now, with all of the debt ceiling stuff coming, howard, this is not the kind of guy you want in that spot. >> larry, surely you're not defending the republicans using the debt ceiling as a chip in negotiations, because if you are, i think you're as bad off as the republicans in the house. >> no, i don't want to see the debt ceiling violated or default. i do not. but i think a deal has to be made, howard. and i think -- spending cuts have to be the key part of that deal. this guy has a reputation not as a spending cutter, but as a tax hiker as steve forbes just said. >> the reason republicans don't like him, he's smarter than they are. which isn't hard to do these days. the fact of the matter is, obama's correct. you can't negotiate over the debt ceiling. it was never done before, before 2011, it should never have been done. you want to know why the dollar's down 10%? >> yes. >> because we made this ridiculous deal on the fiscal cliff that increases spending. had we gone over, the market would be up and the dollar would be stronger because we would
RT
Jan 10, 2013 3:00pm EST
the debt ceiling talks is it bad timing what's going to happen how are the market going to react to all these questions we're going to be asking and answering in the business bulletin after the break kyra all right. wealthy british style. markets. find out what's really happening to the global economy. for a no holds barred look at the global financial headlines kaiser reports. good laboratory to mccurdy was able to build the world's most sophisticated robot which fortunately doesn't give a darn about anything tim's mission to teach creation why it should care about humans and. this is why you should care only. said i'm going to pay with all the latest finance for you welcome to the program. u.s. territory secretary timothy geithner is set to leave washington after four years of service in the obama administration geithner was a key player in many of the administration's early policy decisions about how to end the two thousand and eight financial crisis and jumpstart the economy so his the ponzo house raised something is considering the debt ceiling di lemma has not yet been fully r
Current
Jan 9, 2013 5:00pm PST
they lose as far as the debt ceiling gun control or immigration. it's smart by the white house to draw the republicans in, and while the republicans are focusing on one issue it's like whack a mole you address something else. >> john: what are the odds they do anything about climate change? >> we haven't seen--again maybe we'll see a different approach in the second term, but having said that there is nothing from obama's past that shows he wants to go out and do these controversial things. carbon tax anything dealing with the environment, climate change, i would be surprised. if he's going to cause the freak out with the executive order of gun control, that takes up so much oxygen, and you can only have so many of those freaks outs, and he can't do it seven or eight times. >> john: i think america has seen enough g.o.p. freak outs. >> they want to do something about climate change, but it's only when the economy is humming well when we ask companies to cut down on emissions. but right now there is no room to maneuver on this at all. >> john: getting the cab cabinet nominees confi
CNBC
Jan 10, 2013 6:00am EST
, how do you deal with the debt ceiling, entitlement reform, all of the things that jack lew has deep experience in. and i think that's the economic issue that he thinks is number one of his plate and he chose somebody who he trufts who he thinks can negotiate on his behalf and i think that's the issue. sometimes when presidents pick people from the business community, the business community has an ambassador but is not an insider in the administration. we saw that in the bush administration early on. >> my next question, is there a chance for somebody of the business community talking about coming in from business community or is it difficult to get another member to join when you give away the big title? >> i think when you give away the big title, the biggest names are not going to want to come as somebody's deputy. i don't know how they're going to fill out the lew treasury department, but i expect they will take some care and attention to tending those relationships. but when you look at the big guns on wall street, they're not going to go in as somebody's number two. >> john, wa
FOX News
Jan 9, 2013 7:00pm PST
the debt ceiling to gun control. for starters, vice-president biden saying today the president may impose gun control with an executive order. former speaker of the house, newt gingrich joins us, nice to see you, sir. >> good to be with you. i have to say, you have the most amazing program tonight that i can remember. >> greta: it's quite vast and varied let's say. >> remarkable. >> greta: don't want to miss any of it. and don't want to miss you either. tell me, the vice-president says the president may use an executive order for -- to impose gun control. your thoughts? >> well, the president can try to do almost anything if he wants to. the question is will he get away with it? the two natural stands are first, somebody will file a lawsuit, saying that it's illegal, and unconstitutional. but second, the house republicans have an opportunity when the continuing resolution comes up at the end of the march, to simply zero out the authority, to say no money shall be spent. now, that's so clear under our constitution, and goes all the way back to the magna carta, a copy of which sits i
CNN
Jan 10, 2013 1:00pm PST
said he told the president, please don't send jack lew. during the franl jill debt ceiling negotiations of 2011. it was unbelievable, boehner said. at one point i told the president, keep him out of here. i don't need somebody who just knows how to say no. with the lew pick, all of the president's top four cabinet posts state, defendants, cia, and treasury will be white men. at every briefing this week, reporters have pepper pressed jay carney about what some have dubbed obama's white guy problem. >> this is a couple of appointments. i think it would be useful to wait and make judgments about this issue after the president has made the totality of the appointments that he will make in transition to a second term. >> reporter: of obama's 16 cabinet positions, only two are women. kathleen sebelius and homeland security, janet napolitano. the labor and commerce are open and more will likely become so. it's an usual that can catch fire as we saw during the presidential campaign. >> i went to a number of women's groups and said can can you help us find folks and they brought us binders full
FOX Business
Jan 9, 2013 9:00pm EST
. who can blame you? the aarp demand congress not touch benefits as it discusses the debt ceiling. there is said general agreement social security is not the most troubling program for the president calls it structurally sound but others maintain it is stable. but to academics from dartmouth say that may not be the case. they say the security administration under estimates how long they will live in under estimate as much as $800 billion short and the fund will run out of money before the government even says with people ging up smoking and eating better that live longer and demand benefits longer. forecasting has barely even changed since 1935. 77 years we do it the same way. to ignore the future social security is a big mistake now spending $49 billion more of benefits and to cover the shortfall people age 65 and over will reach 80 million and 2040 social security payments will jump 70% in the decade ending 2011. it is a system that is broken and raising the retirement age are tweaks that need to be made to see if congress has the stomach for it. what do you think? drop me an e-mail ac
MSNBC
Jan 10, 2013 2:00am EST
because you're for him. >> well, i think we're going to see the debt ceiling fight first. >> that's what i mean. >> he feels so passionately -- >> will he tell them to go guest lost? >> in the book i had out last year -- >> what's the name of the book? >> "showdown." the first time he got in his aides said you may have to cut a deal. he said no way. it's not just my presidency, it's future presidencies. we can't let congress hold the white house hostage by not paying their own bills. >> his bills. >> no, listen. >> why didn't he do it? >> well, actually, he did. instead of accepting a six-month extension, he got a year and a half. now he's not going to go back and start negotiating.he m >> predictions time. will the president of the united states when we run out of money under the debt ceiling and he's forced to let people lay off, closing down the national monuments and parks, will he let boehner and his crowd on that? >> on the default he's going to be more critical. >> which comes first? >> i think the debt ceiling may come first. >> will he let the government shut down like clin
FOX Business
Jan 9, 2013 11:00pm EST
nothing sexier or more romantic than the debt ceiling. we could hit the limit around valentine's day, february 14. get out the roses and chocolate or go to the poconos for a romantic get away. >> you will love penn hills in the nearby poconos. >> if you're in love ♪ neil: or you can just call chuck woolery, the former love connection host could be only guy capable of bringing both sides together, chuck, i am telling you, playing tongue in cheek. but i think that nation needs someone like you to bring them together. >> do you really think i could do it? neil: i do. how would you. >> here is the method i would use. obama goes to boehner and sings a sexy al green song -- let's get it on, boehner started to cry, and puddy in obama's hand. neil: i don't know if i want to see that. >> neil, that is the way it is from now on for 4 years, i don't know about after that, but the taxes have not really kicked in. obamacare taxes have not kicked in yet. neil: you know, you did very effectively on the show, i don't read a prompter as you know, move up here -- here we go. >> you are much smarter
Current
Jan 10, 2013 3:00am PST
the show in a hazmat suit so i don't get sick from bill. we are approaching the debt ceiling. do you think that congress can actually work together to get something done or is there another idea to avoided debt default? we're joined by "huffington post" reporter jennifer bendery. good morning. how are you? >> good morning. i'm good. >> peter: thanks for getting up and doing this with us. >> sure, sure, anything for bill. >> peter: for those who don't know, what the hell is the trillion dollar coin? what's this idea being floated around because when i first read it, i thought it was a joke. it turns out it's not. >> i thought the same thing. i thought it was a joke. it is kind of a joke but it turns out it has legal standing. the idea is pretty simple. essentially, if we -- if congress is unable to come up with a way to avoided hitting the debt ceiling, the idea is that basically we could mint a trillion dollar coin and give it to treasury and they could tuesday to pay off our -- to cover our debt obligations and then we wouldn't need to worry about the debt ceiling anymore. it sounds
MSNBC
Jan 10, 2013 7:00am PST
numbers. unitedhealthcare. dodge. with congress showing little progress on next month's debt ceiling deadline, a far-fetched solution is getting more mainstream. we're talking about the $1 trillion coin. supporters including some lawmakers and nobel laureate paul krugman say the treasury department has the power to mint the supercoin which in turn would be used to raise the debt ceiling. and white house press secretary jay carney added some fuel to the fire when he refused to rule it out. >> do you believe you have a power to mint -- >> there is no plan "b." there is no backup plan. there is congress' responsibility to pay the bills of the united states. >> that's a little evasive in your answer. but i say -- are you narrowing the lead -- are you trying to leave room or not? >> there's no substitute for congress extending the borrowing authority of the united states. >> do you believe this is an option, and viable? >> i think there's the only option there. there is no backup plan. the only option is for congress to do its job. >> let's bring in nbc analyst and former communications editor kar
FOX News
Jan 9, 2013 4:00pm PST
trillion-dollar coin proposal to solve the debt ceiling issue? farfetched? but maybe the platinum proposal should not be taking people by surprise. >> so the republicans are clearly in a strong position, but the president might have a trick up his sleeve. >> is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and now even a congressman are suggesting a 1 trillion-dollar platinum coin could be minted and the government could use that to pay the debt, avoid default and preempt the debt ceiling crisis. >> we should have known a coin was obama's solution to everything. it was right there in his slogan. change. [ laughter ] >> bret: so clever. thanks for inviting us into your home tonight. that is it for this "special report." fair balanced and unafraid. it t. is webs so "special report" online starts in 5 seconds. >> this is the fox report. tonight disturbing self-photographs of the movie massacre suspect. disturbing pictures they say they found on his phone. plus a crowded ferry slams into a pier. commuters tossed about by the dozens hurt. >
FOX News
Jan 9, 2013 6:00pm PST
, section 7. urging the president to use the 14th amendment to raise the debt ceiling and only today did the white house spokesman jay carney seem to back off that unconstitutional idea, but with this group, who knows? obama is increasingly relying on executive orders to bypass congressional authority, now, this is what he refers to as the, we can't wait initiative or as i call it get the republicans the hell out of the way initiative. he's been using this for infrastructure projects and policies, and made several recess appointments while the senate was officially still in session. no president has attempted that power grab and halted deportation of illegal immigrants and adoptions of the dream act though he failed to pass it through congress and unilaterally changed welfare requirements without submitting them to congress for review. even the office said he should have consulted congress in that case. what you're witnessing is an out of control, arrogant, unconstitutional power grab. here to talk about the legality of all this have and discussion what options the president may be w
PBS
Jan 10, 2013 6:30pm EST
. president obama taps a new warrior for the debt ceiling fight. he chooses jacob lew to be the 76th u.s. secretary of the treasury. >> tom: i'm tom hudson. uncle sam wants to make sure you can afford that home loan before you buy. new rules to protect consumers from bad mortgage lenders are on their way. >> susie: and, we look at whether new year's resolutions, to lose weight, can pump up your portfolio. >> tom: that and more tonight on "n.b.r."! >> susie: president obama named today a "low key" washington hand as his new secretary of the treasury. jacob lew is being called a man who combines tough bargaining with deep economic understanding and a commitment to protecting the safety net for the poor and the elderly. some republicans have promised to oppose lew's nomination, but most say they are reserving judgment. darren gersh has more on this pivotal player. >> reporter: the president introduced his pick for treasury secretary as a man who gets tough jobs done. and one of those jobs will be protecting programs the president supports. >> as the son of a polish immigrant, as a man o
FOX Business
Jan 10, 2013 1:00pm EST
was a tough guy to negotiate when he was talking about the debt ceiling. he has positions and doesn't give much ground although he is really nice person. he added that at the end of the people seem to like him. if he is tough negotiator is now the time to have someone like that when we're trying to build some consensus and we have go sides that are always very far apart? >> the way i view it, simply he reflects the president. i think the president has been a tough negotiator. certainly when you look at the fiscal cliff deal, it does seem that the president won most of that battle. so i would suspect that jack simply reflects the president. and that seems to be the way we're going to go forward, as someone in the financial markets. that is what i have to take it at face value, whether it is good for bad overall for the economy over the long run, it just doesn't seem to be all that important right now. what seems to be important is, the position of jack and the president seems to be, defending the spending numbers, and being very, very cautious about tax cuts. melissa: yeah. senator jef
FOX Business
Jan 10, 2013 11:00am EST
stubborn, very tough negotiator, witnessed in the 2011 debt ceiling fight. how do you think it plays out with the debt ceiling fight and the sequestration and the budget? >> yeah, well, i think it is very troubling because, you know, one of the conversations we've been having is that there has to be more compromise in washington if we're going to get through some of these things, and i think that this -- choosing him as treasury secretary sets us up for some very bitter fights. you know, he has basically blamed the republicans all along as the president has, and, you know -- for example, he's blamed the republicans in the senate for not passing the budget. that's completely wrong. the budget is a privileged piece of legislation that doesn't require 60 votes to get through. that's something that the democrats can do. but he wants to achieve the president's goal and he will fight the republicans every step of the way. i don't think he's interested in in any compromise. connell: he's a big part of those fights, maybe not this most recreent -- recent time, b the previous go around. >> al
FOX Business
Jan 9, 2013 7:00pm EST
unilaterally on the debt ceiling as well. twenty-one democrats led by congressman peter welch said in a letter that they fully support any use of presidential authority, including interpreting the 14th amendment to support presidential action to prevent the government from going into default. that amendment contained a section stating that the validity of the public and the united states shall not be questioned. at best interpret those words to be authorization for the president to act on his own is to say the least eight tortured reasoning. and as a matter of law, the federal borrowing limit is set by congressional approval. the white house, not as adventurous as the democrats in congress to send that letter. the white house unwilling to take on more than one constitutional amendment and challenge at a time. white house spokesman jay carney today. >> the proposition on the 14th amendment has not changed. let's be clear. congress has the responsibility and the sole authority to raise the debt ceiling. congress must do its job. lou: the administration does appear willing to go around congress t
Search Results 0 to 49 of about 126 (some duplicates have been removed)